The Fixer Upper
Real estate investing has become almost a national pastime. Millions are made every year on the buying and selling of homes. Many of the smartest investors know the secret to realizing a great profit in real estate lies in what is known as "The Fixer Upper." Have you ever noticed that one home on your street that could be so much more than it is with only a little work? Chances are that home is an undiscovered gold mine.
It is truly amazing what a run-down home can become with a little time, a little money and some TLC. Here are a few great ideas to think about when purchasing a fixer upper.
1. Paint. It is no real secret that a new coat of paint can bring new life to a home both inside and out. A different color scheme can also dramatically change the atmosphere and feeling of an older home.
2. Fixtures. Are the fixtures in the home old and outdated? This can be a large drawback when selling a home. Old out of style fixtures show disinterest in the upkeep of a home. This applies to all fixtures, lights, faucets, toilets and sinks. Take some time and find elegant new fixtures that fit the new identity of the home.
3. Floors. Are the home's floor tragically out of date or in poor shape? Stained linoleum and chipped tiles are never a attractive feature. A quality laminate can do wonders for a home's appearance. New tiles in high-traffic areas like the kitchen or bathroom are also a good idea.
4. Appliances. Nothing attracts the interest of buyers like brand new appliances. This can also serve as a safety upgrade if the old appliances have fallen into disrepair. New appliance can also drastically increase your asking price.
5. Landscaping. This is one of the most important aspects of improving the fixer upper. Curb appeal is critical when buyers come to view a home. If the curb appeal is neglected and the property is not attended to, many prospective buyers can be lost before they even step into the home. Tidy up the yard and plant some flowers. Ensure that hedges and bushes are neatly trimmed and that all walkways and access points are clear and uncluttered. Another good idea is to resurface the driveway if it is showing cracks and wear. A simple asphalt is easy to apply and adds a neat and tidy air to the entrance.
Don't forget that many homes sales are decided within the first few minutes of seeing a home. The cosmetic presentation of a home is the single most important factor in attracting prospective buyers. Most of the above mentioned fixes can be done quite easily and without hiring a contractor or professional. Although it is never a good idea to do electrical work yourself unless it is your profession. The same caution definitely applies to working with and around natural gas. So be careful, and give your fixer upper the attention that it needs to bring you the profit that you desire.
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REW Writers is a collective publication network facilitated by Real Estate Webmasters (www.realestatewebmasters.com) each article is contributed by a member of our real estate community (www.realestatewebmasters.com/forum.php) . This particular article was submitted on behalf of Calum & Kathleen MacKenzie, your elite Tampa Realtors. (www.tampahomes24-7.com)